PPP Forgiveness, Indirect Rates & The Incurred Cost Proposal
Format: Live webinar (on-demand recording available on February 18, 2021)
Duration: Approx. 90 minutes
Instructor: Robert Jones, Left Brain Professionals
NCMA Certifications: 1.5 CPEs
APTAC Certifications: 0.75 ATC
APTAC BOK: C.12 Financial Controls
*Your registration includes access to the on-demand recording.
The accurate calculation of indirect rates is critical to budgets, proposals, provisional billing rates, and ultimately to company profitability. And the timely determination of final rates, final invoices, and contract close-out is dependent on the proper completion of the incurred cost proposal. Adding in PPP loans and Section 3610 funds creates another layer of complexity to an already confusing process for small business owners.
This doesn’t even consider the tax implications of PPP loans and other CARES Act or FFCRA COVID-19 relief options. Did you know according to FAR 31.201-5, contractors must accrue to the government the benefit of any refunds, rebates, or credits received in the form of cost reductions or cash refunds?
During this webinar, we will discuss why contractors may or may not want to apply for forgiveness and will provide technical guidance on the proper calculation of rates and completion of the incurred cost proposal.
Here’s what you will learn:
- Why government contractors should apply for PPP forgiveness.
- Eligible expenses that qualify for forgiveness as a government contractor.
- The impact of Section 3610 assistance.
- How to report PPP forgiveness and Section 3610 on the ICP.
- The effect of PPP and Section 3610 on indirect rates.
- Recordkeeping requirements.
Target Audience: Accountant, Bookkeeper, Business Owner, CFO/Controller, CPA, Sr. Accountant, Government Contractor
Meet Your Instructor:
Robert E. Jones, CPA, CPCM, NCMA Fellow
Award-winning speaker, Robert E. Jones shows audiences how to navigate the constantly changing legal and regulatory landscape of government contracts. In his engaging and highly rated presentations, he shares insider secrets drawn from 15 years of DoD contract and accounting experience. His proactive, decisive approach to finding opportunities and solving problems is based on experience in managing more than $30 million in federal contracts.
Mr. Jones has experience with a wide variety of speaking engagements, including emcee/moderator, seminars, training, chapter meetings, and conference presentations. He engages audiences with innovative approaches to contract profitability, accounting, compliance, and related topics.
The West Virginia native, Mr. Jones earned a bachelor’s degree in accounting from the McColl School of Business at Queens University of Charlotte in North Carolina. He holds a master’s degree in accountancy from The Graduate School of the College of Charleston in South Carolina. He is a licensed CPA in the State of Ohio.